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WBCS Current Affairs 25/12/2016 to 31/12/2016

PostPosted: Fri Jan 06, 2017 1:34 pm
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1. India and Singapore have signed a Third Protocol to amend DTAA (Double Taxation Avoidance Agreement) for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income. It was signed in line with India’s treaty policy to prevent double non-taxation, curb revenue loss and check the menace of black money through automatic exchange of information. Key Facts The Third Protocol amends DTAA to provide for source based taxation of capital gains arising on transfer of shares in a company. It will come into effect from April 1, 2017 to provide for source based taxation of capital gains arising on transfer of shares in a company. It also inserts provisions to facilitate relieving of economic double taxation in transfer pricing cases. It also enables application of domestic law and measures concerning prevention of tax avoidance or tax evasion. This is a taxpayer friendly measure and is in line with India’s commitments under Base Erosion and Profit Shifting (BEPS) Action Plan to meet minimum standard of providing MAP access in transfer pricing cases. Two year transition period from April 1, 2017 to March 31, 2019 has been provided during which capital gains on shares will be taxed in source country at half of normal tax rate.

2. The Cochin Shipyard Limited (CSL) has delivered ICGS AYUSH, the 20th Fast Patrol Vessel (FPV) to the Indian Coast Guard. With this, CSL has completed construction of 20 FPVs for the Indian Coast Guard. ICGS Ayush will be operated from the Coast Guard Station at Krishnapatanam. It is last in the series (CSL Yard No BY 520) and was delivered three months ahead of schedule.

3. The Central Board of Direct Taxes (CBDT) has extended the last date for availing the Direct Tax Dispute Resolution Scheme to January 31, 2017 from the earlier deadline of December 31, 2016. This extension aims to give companies one more month to accept its offer to settle retro tax disputes with Government. It comes against the backdrop of tepid response from companies to the scheme. About Direct Tax Dispute Resolution Scheme The scheme was announced by Finance Minister Arun Jaitley in the 2016-17 Budget and came into force on June 1, 2016. It provides for waiving interest and penalties if the principal amount involved in retrospective tax cases is paid. It aims at releasing about Rs. 5.16 lakh crore, which is locked in about 2.6 lakh pending direct tax cases. Under it, a disputed tax amount of up to Rs 10 lakh and the penalty will be forgone. However, in cases where the disputed tax amount is above Rs 10 lakh, a penalty of 25% will be levied. It waives of the interest and penalty for retrospective tax cases only if the company in question withdraws all appeals against the government at all judicial forums. Through the scheme, the government hopes to settle major retrospective tax cases facing Cairn Energy of UK and Vodafone Group. It also expects a third of the other tax disputes to be settled.

4. The Reserve Bank of India (RBI) has extended the period of enhanced Prepaid Payment Instruments (PPI) limit of Rs 20,000 as part of efforts to promote digital payments. The limit has been extended till the completion of review of the PPI guidelines. However, the balance in such PPIs cannot exceed Rs 20,000 at any point of time and the merchants can transfer funds from such PPIs to their own linked bank accounts up to Rs 50,000 per month, without any limit per transaction. About PPI PPIs are methods that facilitate purchase of goods and services against the value stored on such prepaid instruments. These instruments can be issued as online wallets, mobile accounts, mobile wallets, smart cards, magnetic stripe cards, internet accounts, paper vouchers and any such instruments used to access the prepaid amount. The value stored on such instruments represents the value paid for by the holder, by debit, by cash to a bank account or by credit card.At present, 47 non-bank entities and 45 banks are operating payment systems for PPI.

5. Prime Minister Narendra Modi launched UPI based mobile payment application called BHIM (Bharat Interface for Money) at the Digi Dhan Mela held in Talkatora stadium, New Delhi, The app is rebranded version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data) for simpler digital payments without cash. Key Facts BHIM is Aadhaar-based payments app developed by the National Payment Corporation of India (NPCI). The app allows easily transferring money or making a payment from your bank account using only phone number. It can work even on basic phones as it supports USSD payments. It has mobile wallet facility in which money can be loaded. Using it anyone can directly connect their phone to bank account like a debit card. The app also allows user to scan a QR code. The merchant can also generate his QR code through the app. Payment can be done through scanning QR code. Merchants can also use the BHIM app to receive money from a smartphone or Aadhaar Pay if customer has linked a bank account and Aadhaar ID. Payments through this app are happening directly from and to bank accounts, so merchants don’t have to worry about transferring wallet earnings to the bank account. All major UPI connected Indian banks accepts money through BHIM app. Even banks not connected to UPI can receive money through BHIM through IFSC assigned to banks.

6. The Union Ministry of Law and Justice has constituted a High Level Committee (HLC) to review institutionalisation of arbitration mechanism in India. The committee will be headed by Justice B N Srikrishna, the retired Judge of Supreme Court. It will look into various factors to accelerate arbitration mechanism and strengthen the arbitration ecosystem in the country. It will also examine specific issues and prepare roadmap required to make “India a robust centre for international and domestic arbitration.

7. The Union Ministry for Petroleum & Natural Gas has met the 1.5-crore target for LPG connections that were to be added under the Pradhan Mantri Ujjwala Yojana (PMUY) in the 2016-17 financial year. This Target was achieved within a span of less than eight months since the launch of the scheme which is implemented across 35 States/UTs. Key Facts Since the launch of the PMUY, the LPG coverage across the country has increased to 70% as of December 1, 2016 from earlier 61% as of January 1, 2016. Top five States with highest number of LPG connections are: Uttar Pradesh (46 lakh), West Bengal (19 lakh), Bihar (19 lakh), Madhya Pradesh (17 lakh) and Rajasthan (14 lakh). These states constitute nearly 75% of the total connections released. 14 States/UTs with LPG coverage less than the national average. They are J&K, Uttarakhand, Himachal Pradesh and all North-East States. They have been identified as priority States for implementing PMUY. The households belonging to SC/ST constitute the large chunk of beneficiaries of this scheme with 35% of the connections being released to them. About Pradhan Mantri Ujjwala Yojana (PMUY) The scheme provides free LPG connection with financial assistance of Rs. 1600/- per connection to an adult woman member of BPL family identified through Socio-Economic Caste Census (SECC) data. It was launched by Prime Minister Narendra Modi in May 2016 from Balia, Uttar Pradesh. PMUY is the first welfare scheme being implemented by the Union Ministry of Petroleum and Natural Gas. The tagline of scheme is Swachh Indhan, Behtar Jeevan. It seeks to empower women and protect their health by shifting them from traditional cooking based on unclean cooking fuels or fossil fuels to clean cooking gas. It is being implemented over three years’ time frame i.e. in the FY 2016-17, 2017-18 and 2018-19 with budgetary allocation of allocated Rs, 8,000 crore announced in the Union Budget 2016.

8. The Union Government has proposed setting up Financial Data Management Centre (FDMC) based on recommendation of a committee set up under the Department of Economic Affairs (DEC). The Committee was headed by Ajay Tyagi, Additional Secretary in Union Finance Ministry and has submitted its report and a draft bill titled The Financial Data Management Centre Bill, 2016. Functions of FDMC Standardise data from all financial sector regulators in a single database and provide analytical insights based on the data to ensure stability in the economy. Take measures to standardise data from regulators, enable financial service providers to submit data in a standardised electronic format, analyse data and maintain a financial system database. Establish, operate and maintain the financial system database along with collecting financial regulatory data and providing access to it. Provide analytical support to the Financial Stability and Development Council (FSDC) on issues relating to financial stability. Background In 2015, FSDC first had suggested the creation of such a body, after Reserve Bank of India (RBI) had objected to share company-specific data with FSDC. RBI had given reason that FSDC is not a statutory bod in nature, and sharing such data would be a breach of confidentiality. To resolve this issue, Union Finance Minister Arun Jaitley in his 2016-17 Budget Speech announced setting up of statutory FDMC under the aegis of the FSDC to facilitate integrated data aggregation and analysis in the financial sector.

9. President Pranab Mukherjee has given assent to Payment of Wages (Amendment) Ordinance, 2016, to enable industries to pay wages by cheque or credit into the bank accounts of workers. The ordinance amends the Payment of Wages Act, 1936 to encourage cashless transactions. With this assent the ordinance becomes law as per article 123 of the Constitution. Key Provisions of Ordinance Allows industries to pay wages to workers earning up to Rs. 18,000 per month, without taking their explicit consent as required under present Act. Empowers the Union and State governments to specify industries or establishments where wage payments can be made mandatory through banks. However, it is not mandatory for employers to make wage payments through the banking system and they can still pay in cash. Background The Union Government had decided to take the ordinance route because after demonetisation of the Rs. 500 and Rs. 1,000 banknotes in November 2016 had led to a cash crunch, and employers were finding it tough to pay workers in cash. The Payment of Wages (Amendment) Bill, 2016, introduced in Parliament was also not able get passed during winter session of the Parliament. Article 123 of Constitution: It gives legislative power to President. He can issue ordinances when Parliament is not in session (i.e. recess) if there is urgent need to have a law on some urgent public matter. The promulgated ordinance has similar effect to an act of parliament. However, every ordinance must be laid and approved by both houses of the parliament within 6 weeks from the reassembling. If not placed and approved by both houses of the parliament after reassembling it lapses or becomes invalid.

10. The Foreign Investment Promotion Board (FIPB) has approved six Foreign Direct Investment (FDI) proposals worth Rs 1,200 crore. Decision in this regard was taken by FIPB meeting headed by Economic Affairs Secretary Shaktikanta Das. It has approved the proposals of, Star Den Media Services, Sanofi Synthelabo India, Idea Cellular Infrastructure Services, Menarini India, Boehringer Ingelheim India and Recipharm Participation.

11. The Central Board of Direct Taxes (CBDT) signed two unilateral Advance Pricing Agreements (APAs) with Indian taxpayers pertain to the Information Technology and automobile sectors. The international transactions covered in these two agreements include software development services, IT enabled services (ITES), manufacturing and business support services. With this, the total number of APAs signed by the CBDT has reached 117. This includes 110 Unilateral APAs and 7 bilateral APAs. In the current 2016-17 financial year, total of 53 APAs (4 bilateral and 49 unilateral) were signed.

12. Union Government launched Swachh Swasth Sarvatra initiative to strengthen health centres in open defecation-free (ODF) blocks. The objective of this initiative is to strengthen community health centres in 708 ODF blocks across the country to enable them to achieve higher levels of cleanliness and hygiene. Key Facts The Swachh Swasth Sarvatra is a part of the Union Government’s flagship Swachh Bharat Mission and is focused on the twin objectives of constructing toilets and enabling behavioural change. It is joint initiative of Ministry of Health and Ministry of Drinking Water and Sanitation to achieve better health outcomes through improved sanitation and increase awareness on healthy lifestyles. Its objective is to build on and leverage achievements of two complementary programmes – Swachh Bharat Mission (SBM) and Kayakalp. Under it, financial assistance of 10 lakh rupees will be given to the community health centres so that they can be strengthened to meet the standards of sanitation, hygiene and infection control. Along with this, Union Health Minister J P Nadda and Union HRD Minister Prakash Javadekar also jointly launched a booklet- Healthy Children Healthy India. The booklet contains tips on leading a healthy life for children.

13. The Union Government has invited public comments on a report for the creation of a Financial Redressal Agency (FRA). The report also calls for a new financial consumer protection and redressal legislation and also recommends an initial budget of Rs. 100 crore for the setting up of the FRA. Key Facts The objective of FRA will be to address the grievances of retail consumers against all financial service providers in an easy, transparent and cost-effective manner. It will offer a simplified resolution process to allow retail consumers in distant and remote locations to pursue effective remedies without imposing significant costs on them. FRA will try to resolve all complaints through mediation. Cases where parties are unable to reach a settlement will be resolved through a light-touch adjudication process. It will establish a front-end presence in diverse locations for consumers to submit complaints and discourage court-like processes. Why there is need for FRA? There are substantial inadequacies in the current redressal system. The average consumer is put under unnecessary stress as he has to approach different redress agencies based on nature of product. This stress is further amplified due to varying levels of consumer protection across regulators. In some instances, regulated financial service providers (FSPs) are not covered within the scope of the concerned regulator’s redress functions. Further, there is a lack of powers to award compensation in some cases, pushes consumers to courts or consumer forums. Even the present systems do not have a specialised cadre of redress professionals and there is possibility of a conflict of roles between the various redressal agencies. Background Union Finance Minister Arun Jaitley in his 2015-16 budget speech had announced creation of a sector-neutral FRA, following the recommendations of the Financial Sector Legislative Reforms Commission (FSLRC). The FSLRC in 2013 had recommended an FRA as part of the regulatory framework aimed at fostering customer protection and regulator independence and accountability.

14. The Union Government has launched Integrated Voice Response System (IVRS) system in a bid to tackle the call drop menace. The system was launched at multiple locations including Delhi and Mumbai to obtain direct feedback from subscribers on call quality on the issue of frequent call drops. It is now available in Delhi, Mumbai, Punjab, Uttar Pradesh, Uttarakhand, Maharashtra and Goa and soon will be extended to the entire country.

15. The Union Cabinet approved promulgation of Specified Bank Notes Cessation of Liabilities Ordinance to penalise persons holding banned 500 and 1,000 rupee notes. It will come into force once it gets Presidential assent as per Article 123 of the Constitution. It will make possession of a large number of demonetised 1,000 and 500 rupee notes beyond threshold amount a penal offence. Key Facts The ordinance amends Reserve Bank of India Act to provide legislative support for scrapping the demonetised banknotes that are not returned. It removes the liability of the government and the central bank on the demonetised high-denomination notes to prevent future litigations. It provides a limited window for depositing the cancelled notes at select RBI branches until March 31, 2017. The possession demonetised notes will attract a monetary fine of 10,000 rupees or five times the cash held, whichever is higher. The penalty for holding old high value currency in excess of 10 notes may include financial fines and no jail term. However, the old demonetised notes will be allowed only for the purpose of research and numismatics. Note: In 1978, a similar ordinance was issued by then Morarji Desai-led government to end the government’s liability after Rs 1,000, Rs 5,000 and Rs 10,000 notes were demonetised.

16. China has successfully launched pair two high-resolution remote sensing satellites SuperView-1 01 and 02 to get commercial images. These satellites were launched on-board of Long March 2D rocket from the Taiyuan Satellite Launch Centre in Shanxi Province. They will provide commercial images at 0.5-meter resolution.

17. The Cabinet Committee on Economic Affairs (CCEA) has approved Road Connectivity Project for Left Wing Extremism (LWE) Affected Areas to improve rural road connectivity in worst LWE affected districts critical from security and communication point of view. The project will be implemented under Pradhan Mantri Gram Sadak Yojana (PMGSY) to provide all weather road connectivity in 44 worst affected LWE districts and adjoining districts. Key Facts The Union Ministry of Rural Development will be the implementing Ministry as well as sponsoring Ministry of this project during implementation period four years from 2016-17 to 2019-20. The fund sharing pattern of LWE road project will be same as that of PMGSY i.e. in the ratio of 60:40 between the Centre and States for all States. However the ration will be 90:10 for eight North Eastern and three Himalayan States (Himachal Pradesh, Jammu & Kashmir & Uttarakhand). About Road Connectivity Project for LWE Affected Areas This project is envisaged in LWE States including the 35 worst affected LWE districts which account for 90% of total LWE violence in the country. The all-weather roads taken up under this scheme includes Other District Roads (ODRs), Village Roads (VRs) and upgradation of existing Major District Roads (MDRs) that are critical from security point of view. Besides, bridges up to a span of 100 meters which are critical from security angle will also be funded on these roads. The National Highways and the State Highways are excluded from this project. The roads to be constructed under this project have been identified by Union Ministry of Home Affairs in close consultation with the State Governments and the security agencies. About Pradhan Mantri Gram Sadak Yojana (PMGSY) PMGSY is Centrally Sponsored Scheme launched in 2000 with the objective to provide all-weather road connectivity to all eligible unconnected habitations in rural areas of the country. The programme envisages connecting all eligible unconnected habitations with a population of 500 persons and above (as per 2001 Census) in plain areas and 250 persons and above (as per 2001 Census) in Special Category States, Desert Areas (as identified in Desert Development Programme), Tribal (Schedule-V) areas and in Select Tribal and Backward Districts (as identified by the Union Ministry of Home Affairs/Planning Commission).

18. The Union Cabinet gave its approval to the proposal of Union Ministry of New & Renewable Energy (MNRE) for ratification of International Solar Alliance (ISA) Framework Agreement by India. The Agreement was opened for signature on the sidelines of 22nd Conference of Parties (CoP) meeting United Nations Framework Convention on Climate Change (UNFCCC) at Marrakesh, Morocco. The Agreement invokes the Paris Declaration on ISA and encapsulates the vision of the member nations. Till now, 25 nations have signed the Framework Agreement. World Bank and UNDP also have announced their partnership with the ISA. About International Solar Alliance (ISA) ISA was launched jointly by Prime Minister Narendra Modi and President of France François Hollande in November, 2015 at Paris on the side-lines of the 21st CoP meeting of UNFCCC. It is brainchild of Prime Minister Narendra Modi. It is also India’s first international and inter-governmental organization comprising 121 Countries. ISA strives to bring together more than 121 solar resource rich tropical nations lying fully or partially between two tropics for coordinated research, low cost financing and rapid deployment. Its headquarters are located in Gwal Pahari, Guragaon in Haryana. The institutional structure consists of an Assembly, a Council and a Secretariat (to be located in India). Its members will take coordinated actions through programmes and activities that will aggregate demands for solar finance, solar technologies, innovation, R&D and capacity building. India has already committed the required support of operationalization of ISA. It will put India globally in a leadership role in climate and renewable energy issues.

19. President Pranab Mukherjee has appointed former bureaucrat Anil Baijal (70) as the 21st Lieutenant Governor of Delhi. He will succeed Najeeb Jung who had resigned before completion of his term and is returning to teaching profession.

20. The Union Government has appointed Viral V Acharya (42) as new Deputy Governor at the Reserve Bank of India (RBI). He will have regular three-year tenure. His appointment was cleared by the Appointments Committee of the Cabinet (ACC) chaired by Prime Minister Narendra Modi in New Delhi. He will fill the post that fell vacant after Urjit Patel after he was made RBI Governor to succeed Rajan with effect from September 2016. The existing three Deputy Governors of RBI are S S Mundra, R Gandhi and N S Vishwanathan.

21. According to recently released annual report of the Union Ministry of Tribal Affairs, the tribal population in India lags behind other social groups on various social parameters. The tribal population lags in parameters such as child mortality and infant mortality and women’s health, education, poverty etc. Key Highlights of report Vast majority of tribal population is engaged in agricultural labour. It has the largest number of anaemic women. Mortality rates: The community also has registered the highest child mortality and infant mortality rates compared to other social groups. Education: The gross enrolment ratio (GER) among tribal students in the primary school level has declined from 113.2 in 2013-14 to 109.4 in 2015-16. Besides, dropout rate among tribal students is alarming. Poverty: The overall poverty rates among the tribal population have fallen compared to previous years. They remain relatively poor when weighed against other social groups. Health infrastructure: It has also been found wanting in tribal areas. There is a shortfall of 6,796 sub-centres, 1,267 primary health centres (PHCs) and 309 community health centres (CHCs) in the tribal areas at an all-India level as on March 31, 2015. Gaps in rehabilitation: There are gaps in the rehabilitation of the tribal community members displaced by development projects. Only 21 lakh tribal community members have been rehabilitated so far of the estimated 85 lakh persons displaced due to development projects and natural calamities.

22. The National Board for Wildlife (NBWL) has given its clearance for the Ken-Betwa inter-linking of rivers (ILR) project, paving the way to begin work for linking two rivers. The clearance of NBWL was required since the project requires diversion of forest land from core area of Panna Tiger Reserve. However NBWL has set some conditions. They are Integration of nearby sanctuaries including Ranipur and Rani Durgavati with the Panna Tiger Reserve to compensate loss of tiger habitat and complete ban of fresh mining lease in the area. The National Tiger Conservation Authority (NTCA) will take care of the landscape plan for the area with the help of Wildlife Institute of India (WII) and state forest departments. Background The Ken-Betwa ILR project had received clearance of the Union Cabinet in July 2014 but the work could not begin as the mandatory clearance from the NBWL got stuck due to objections raised from wildlife conservationists and environmentalists. Nearly 8,650 hectares of forest land including part of Panna National Park in Madhya Pradesh will be submerged due to implementation of this project. The conservationists and environmentalists have been mainly opposing the project, flagging its impact on tiger reserve and wildlife sanctuaries. About Ken-Betwa ILR project The Ken-Betwa ILR project aims to transfer surplus water from the Ken River to the Betwa basin through concrete canal to irrigate India’s worst drought-prone Bundelkhand region. The project will benefit Uttar Pradesh and Madhya Pradesh in terms of meeting irrigation, drinking water and electricity needs of people across 6 districts in the two states. The 221-km concrete canal will pass through Jhansi, Banda and Mahoba districts of Uttar Pradesh and Chhatarpur, Panna and Tikamgarh districts of Madhya Pradesh. The project also had received green signal from the Supreme Court following the tripartite MoU involving UP, MP and Centre. The apex court in February 2012 had directed Centre to implement this project in a time-bound manner and also had appointed a high-powered committee for its planning and implementation.

23. A team of international astronomers has discovered Vela super cluster, one of the biggest super galaxy clusters near the Milky Way. It was spotted by a research team of astronomers from South Africa, Australia and Europe with help slew of telescopes including the Anglo-Australian Telescope (Sydney) and South African Large Telescope (Cape Town). Key Facts Vela super cluster is massive and it is estimated to carry 100,000 galaxies with trillions of stars. It is one of the biggest concentrations of galaxies found in the Universe. It is possibly biggest galaxy in neighborhood of our Milky Galaxy and is at a distance of 840 million light-years from Earth. Our galaxy Milky Way, part of Laniakea supercluster is puny when compared to Vela. This new discovery may help astronomers to answer the retardation on the speed of Milky Way, which has mass of 400 billion suns and is containing 100 billion or more stars. Vela can also offer hints on how Milky Way got to the current location in the universe and gravity of the supercluster can explain the variations in Milky Way’s measured motion in space. What are Galaxy clusters? They are among the largest structures in the universe consisting of hundreds of galaxies spread in a not so vast area, usually it is limited to a few million light-years across. These clusters are big population of elliptical yet massive galaxies at the core. It is believed that these clusters formed stars a long time ago but not making stars anymore.

24. Prime Minister Narendra Modi has laid the foundation stone of Char Dham highway development project or Chardham Mahamarg Vikas Pariyojna in Dehradun, Uttarakhand. The Chardham Mahamarg Vikas Pariyojna is an ambitious initiative to improve connectivity to the Char Dham pilgrimage centres in the Himalayas.The project’s main objective is to develop around 900 km of national highways. These highways will be built at an approximate cost of Rs 12,000 crore. It will allow uninterrupted access for pilgrims to the four Himalayan shrines of Kedarnath, Badrinath, Gangotri and Yamunotri in Uttarakhand. The all-weather roads will have tunnels, bridges and fly-overs to enhance road safety and uninterrupted access.

25. Union Road Transport and Highways Minister Nitin Gadkari inaugurated Sagarmala Development Company’s (SDC) office in New Delhi to promote port-led development in the country. The SDC has been incorporated under the Companies Act, 2013. The Union Cabinet in July 2016 had approved formation of the SDC under the administrative control of the Union Ministry of Shipping.

26. Assam Government rolled out ‘Atal-Amrit Abhiyan’, a health insurance scheme to provide coverage against several critical illnesses. Atal-Amrit Abhiyan aims to make quality health care affordable to every individual member of a family in the state. This scheme is claimed to be the biggest health care initiative undertaken by any State Government in the country. It has financial outlay of the scheme is around Rs 200 crore.

27. India successfully test-fired its home-grown long range intercontinental surface-to-surface nuclear capable ballistic missile Agni-5. The state-of-the-art surface-to-surface missile was test fired successfully from the launch complex 4 of the Integrated Test Range from the Abdul Kalam Wheeler Island off Odisha coast. It was the fourth developmental and second canisterised trial of the missile. About Agni-5 missile Agni 5 is three-stage solid propellant ICBM indigenously developed by the Defence Research and Development Organisation (DRDO). Unlike other missiles of Agni series, Agni-5 is the most advanced having new technologies incorporated with it in terms of navigation and guidance, warhead and engine. It is about 17 metre long, 2 metre wide and has launch weight of around 50 tonnes. It is capable of striking a target more than 5,000 kilometres with nuclear warhead carrying capacity of more than 1 tonne. Thus, it can hit most northern parts of China and other parts of Asia, Europe and Africa. It has not yet inducted into the Services. It carries Multiple Independently Targetable Re-entry Vehicles (MIRV) payloads. A single MIRV equipped missile that can deliver multiple warheads at different targets. It is also incorporates advanced technologies involving ring laser gyroscope and accelerometer for navigation and guidance. Comment Once this missile is inducted in Services, India will join the super exclusive club of countries having ICBMs (missiles with a range of over 5,000-5,500km) alongside the US, Russia, China, France and the United Kingdom. The missile will enhance India’s strategic and deterrence capabilities. At present India in its armoury of Agni missile series, possesses Agni-I (700 km range), Agni-II (2000 km range), Agni-3 (2,500 km range) and Agni-4 ( more than 3,500 range).

28. Scientists from Canada have developed the first functional pacemaker cells using human pluripotent stem cells. The cells can regulate heart beats with electrical impulses. It paves the way for alternate biological pacemaker therapy.

29. A team of UK-based researchers have identified Hafnium carbide (HfC) as the world’s most heat resistant material. It can withstand record melting point temperatures up to 3958°C (approx 4000°C). New Laser-heating techniques were used to find the temperature at which Tantalum carbide (TaC) and HfC melted, both separately and in mixed compositions. Key Facts Hafnium carbide (HfC) and Tantalum carbide (TaC) are refractory ceramicse. they are extraordinarily resistant to heat. Researchers found TaC melted at 3,768 degrees Celsius, and HfC melted at 3,958 degrees Celsius. Besides, the mixed compound (Ta0.8Hf0.20C) exceeded its previous recorded melting point. These materials at present are mainly used in thermal protection systems on high-speed vehicles and as fuel cladding in the super-heated environments of nuclear reactors. This discovery may pave the way for improved heat resistant shielding for the faster-than-ever hypersonic space vehicles. It means that future spacecraft could become more faster than ever. Currently hypersonic aircraft travelling above Mach 5 (5 times speed of sound) speed creates very high temperatures as friction is involved when travelling this speed limit. This means that these materials will enable spacecraft to withstand the extreme heat generated from leaving and re-entering the atmosphere.

30. The Defence and Research Development Organization (DRDO) successfully flight tested Smart Anti-Airfield Weapon (SAAW) from Indian Air Force (IAF) aircraft at integrated test range in Chandipur, Odisha. During the test, the captive and release trials were tracked by Radar and Telemetry ground stations at Interim Test Range during the entire duration of the flight. Besides, the performances of all systems of SAAW were satisfactory meet and all the mission objectives were achieved.

31. The foundation stone of India’s first 2G (Second Generation) Ethanol Bio-refinery was laid at Tarkhanwala village in Bathinda, Punjab. Central Government Public Sector Undertaking (CPSU) Hindustan Petroleum Corporation Limited (HPCL) is setting up this project at a cost of 600 crore Rupees. Key Facts HPCL’s bio-refinery will produce 100 kilolitres of ethanol per day i.e. 3.20 crore litres per annum from agricultural residues. It will be sufficient to meet the 26% of the ethanol blending requirement of Punjab. It will also produce about 30,000 tonnes of bio-fertiliser per annum to enhance soil nutrients. It will also produce more than 1 lakh kilograms of Bio-CNG per annum which can cater to transport and clean cooking requirements. It will generate employment for about 1,200-1,300 persons in the biomass supply chain. It will also generate an additional income of approximately 20 crore Rupees per annum for farmers through purchase of their agriculture residues. The project will also significantly help in reducing CO2 emissions from the paddy straw which currently is being burnt after harvesting. Background HPCL and other state-run oil firms are planning to set up 12 2G ethanol bio-refineries across 11 states at an estimated cost of 10,000 crore Rupees. These Bio-refineries will be significantly contributing towards the Ethanol Blending Programme (EBP) for achieving 10% Ethanol Blending in Petrol from current 5% by producing around 35-40 crore litres of ethanol annually. Read more About 2nd generation ethanol 2nd generation ethanol is a fuel that can be manufactured from various types of biomass. Whereas 1st generation ethanol is made from the sugars and vegetable oils found in arable crops, which can be easily extracted using conventional technology. In comparison, 2nd generation ethanol is made from lignocellulosic biomass or woody crops, agricultural residues or waste, which makes it harder to extract the required fuel using conventional technology.

32. As many as 6,117 Kuchipudi dancers set a new Guinness World Record by performing together in a single event in Vijayawada district of Andhra Pradesh. The Guinness World Record adjudicated for the 12-minute “Jayamu Jayamu” item as the ‘Largest Kuchipudi dance’ performance.

33. The Union Ministry of External Affairs (MEA) has launched Twitter Seva to directly engage with citizens in country and abroad, tourists and business travellers for speedy resolution of their visa and passport queries. Twitter Seva will enable the MEA, through its Twitter handle (@MEAIndia) to strengthen its primary relationship with Indian citizens by providing fast, efficient and real-time public services.

34. The Union Government has launched ‘Smart Consumer’ mobile App and an ‘Online Consumer Mediation Centre (OCMC)’ to provide speedy redressal of consumer grievances. Apart from this, a helpline 14404 was also launched for consumer related grievances on the occasion of National Consumer Day (24th December).

35. Eminent modern Bengali poet Shankha Ghosh was chosen for the prestigious Jnanpith Award for the year 2016. He is the 52nd recipient of Jnanpith Award. He is sixth Bengali litterateur to bag this prestigious literary award after Tarasankar Bandyopadhyay (1966), Bishnu Dey (1971), Ashapoorna Devi (1976), Subhash Mukhopadhyay (1991) and Mahasweta Devi (1966).

36. The NITI (National Institution for Transforming India) Aayoga along with Union Ministry of Health and Family Welfare has rolled out Performance on Health Outcomes index to rank States on the basis of their performance on measurable health indicators. The index was developed with inputs from domestic and international experts, including academicians and development partners as well as feedback from States. Key features of the index Capture the annual incremental improvements of the states, rather than focusing on historical achievements. Includes indicators in the domains of health outcomes governance and information and a few key inputs and processes. Envisioned to bring about the much required improvements in social sector outcomes, which have not so far kept pace with the economic growth of the country. Mainly will be used to propel actions of states to improve health outcomes and improve data collection systems. Includes monitorable indicators that form part of Sustainable Development Goal in Health. Serve as an input for providing performance-based incentives, assist in State-level monitoring of performance and improvement in health outcomes. Involves the participation of several partners including technical assistance from the World Bank, mentor agencies to hand-hold states and third party organisations to validate the data submitted prior to calculation of the index.

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